This, combined with the promise of a cosmetic-only rehab and a 100% cash-out refi, sounds like a perfect-world sales pitch.

Is there a company I can go with to take a loan out against my 401k as I have 2 from previous employer I need to combine to a new one which would be helpful if I could use that to pull cash against. 

In our co-investing club, many members have invested in mobile homes, and I’ve personally invested in land, having both together can be a powerful combination.

And was the potential combined rental income of both units considered in the income approach on the appraisal or just the main unit?

Some will do some combination of any of the above. :)Anyways, in many cases, rehabbing at a distance is going to cost you a bit more. 

Multifamily properties like duplexes, triplexes etc, can help by reducing vacancy risk and boosting income.In markets with strong appreciation, true cash flow deals are rare.

I currently earn about $92k, so once we’re married, our combined income will push us over that limit and we’ll lose eligibility. 

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Looking at a lot near a small downtown area that are two tracts combined. 

"I focus on working directly with property owners by becoming their last tenant — basically combining the role of tenant and property manager into one.